Corcept Therapeutics Inc Stock Price, News & Analysis

Corcept Therapeutics (NASDAQ: CORT) announced the enrollment of the first patient in a Phase 1b trial of relacorilant combined with pembrolizumab for patients with adrenal cancer and cortisol excess. The trial, involving 20 patients at five sites in the U.S., aims to assess whether relacorilant can enhance the effectiveness of pembrolizumab by reducing cortisol-induced immunosuppression. Relacorilant, a selective glucocorticoid receptor modulator, is also being studied for Cushing's syndrome and various cancers.

Corcept Therapeutics (NASDAQ: CORT) announced Atabak Mokari as the new Chief Financial Officer, succeeding Charles Robb, who has transitioned to Chief Business Officer. This appointment comes as the company prepares for significant operational challenges in 2021. Mokari brings nearly 20 years of healthcare finance experience, previously serving as CFO at Bellicum Pharmaceuticals and IRIDEX. Corcept focuses on developing drugs to treat disorders by modulating cortisol effects, with Korlym^® being a FDA-approved treatment for Cushing’s syndrome.

Corcept Therapeutics reported 2020 revenue of $353.9 million, up from $306.5 million in 2019. Fourth quarter revenue was $85.7 million, slightly down from $87.9 million in Q4 2019. The company achieved a GAAP net income of $106.0 million for the year compared to $94.2 million in 2019, while Q4 net income was $26.0 million versus $29.4 million in Q4 2019. Corcept reiterated its 2021 revenue guidance of $375 – 405 million, and reported cash and investments of $476.9 million at year-end.

Corcept Therapeutics (CORT) reported preliminary 2020 revenue of $353.9 million, a 15.4% increase from $306.5 million in 2019. Q4 2020 revenue was $85.7 million, slightly down from $87.9 million in Q4 2019. The company expects 2021 revenue between $375 million and $405 million. Fully diluted GAAP net income for 2020 was $0.85 per share, up from $0.77 in 2019. Cash and investments rose to $476.9 million. Additionally, the Patent Trial and Appeals Board affirmed the validity of its patent claims.

Corcept Therapeutics (NASDAQ: CORT) will report its preliminary fourth quarter and full-year 2020 financial results on February 8, 2021. A corporate update will accompany the results, followed by a conference call at 5:00 p.m. ET. Participants can join the call by dialing the provided numbers or by accessing the link for a listen-only mode. Corcept specializes in developing drugs that target cortisol-related disorders, with Korlym^® being its flagship product approved for Cushing’s syndrome.

Corcept Therapeutics (NASDAQ: CORT) announces the appointment of Gillian M. Cannon, PhD to its Board of Directors. Dr. Cannon brings over 30 years of pharmaceutical experience, including leadership roles at Merck, UCB, and Otsuka. Her extensive experience in commercial operations is expected to support Corcept's pipeline of cortisol modulators. CEO Joseph K. Belanoff expressed confidence that her background will enhance the company’s ability to innovate in drug development.

Corcept Therapeutics (NASDAQ: CORT) announced that the U.S. Patent and Trademark Office's PTAB upheld the validity of U.S. Patent No. 10,195,214, which pertains to the co-administration of Korlym^® with strong CYP3A inhibitors. The patent, expiring in 2037, supports the safe use of Korlym^® alongside commonly prescribed medications for Cushing's syndrome patients. This discovery enhances treatment options for the approximately 20,000 U.S. patients suffering from this condition.

Corcept Therapeutics (NASDAQ: CORT) reported Q3 2020 results, revealing revenue of $86.3 million, a 6% increase year-over-year. However, GAAP diluted net income fell to $0.17 per share from $0.22 in Q3 2019, while non-GAAP net income decreased from $0.31 to $0.24 per share. The company's cash and investments rose to $444.2 million. A new $200 million stock repurchase program was announced, and 2020 revenue guidance was narrowed to $355 - 365 million. CEO Joseph K. Belanoff noted pandemic impacts on commercial results but expressed optimism for future growth.

Corcept Therapeutics (CORT) announced it will report its third quarter financial results on November 3, 2020. A corporate update will accompany the earnings report, alongside a conference call at 5:00 p.m. ET. To participate, attendees can register via a link or dial in using specified phone numbers. The replay of the call will be accessible until November 17, 2020. Corcept is focused on developing drugs for severe disorders by modulating cortisol's effects, with its approved drug Korlym® targeting Cushing’s syndrome, supported by a robust intellectual property portfolio.